Professional Adviser is delighted to announce the launch of the new Working Lunches in partnership with Baillie Gifford and First State Investments. Travelling across the UK to provide valuable market insights for Senior Financial Advisers.

Despite the underperformance of fixed income we discuss in this Spotlight guide why the value proposition of the asset class hasn't gone away. In particular we review how the RLAM management team use existing, proven funds to actively manage consistent monthly income streams and adapt the portfolio to changing interest rate and credit market factors.

Within this guide, you will find some surprising survey results from FE, a selection of adviser opinions and some Architas views too. We hope this guide will provide you with some food for thought on this burning issue.

Two-thirds of those in employment older than state pension age worked part-time compared to a quarter of those under the state pension age.

The bureau said this showed those remaining in the labour market over state pension age worked fewer hours, possibly because their state pension and other pension arrangements allowing them to fit their work around other engagements.

Of the 1.4 million older workers above state pension age in the UK in the final quarter of 2011, 39% were men and 61% were women.

Approximately two-thirds of these men worked in jobs classed as higher skilled, but almost two-thirds of these women worked in lower skilled jobs.

Of all the jobs carried out by men, the two most common were farmers and taxi drivers while for women, the most common job was cleaners, followed by administration assistants, care workers and retail assistants.

London and the South East were the regions with the highest levels of post-retirement age employment - 14.1% - which the ONS said could reflect the higher living costs and "migratory drift" away from the capital for retired people.

Commenting on the figures, Saga director-general Ros Altmann said over-50s were increasingly planning to work beyond state pension age, often motivated by job satisfaction and the social benefits of work.

She added: "There are however other factors to consider for the increase in older workers, such as those coming up to retirement finding their private or state pensions are not as good as they had hoped - meaning they have to stay at work if they want a reasonable income. This may be especially true for women who may have returned back to work from taking time off and have very little pension provision.

"Generally though, these figures should be seen as an indicator that we have redefined age and retirement. By embracing and in fact welcoming the opportunities of working during part of these bonus years, we can help boost our ailing economy, ensure less reliance on the state and ultimately make retirement more fulfilling."